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Covanta goes ex-div 12/28 +2

16:38 08-Dec-16


As predicted, Covanta just announced its dividend for those owning the stock at the close on December 27th.  The announcement included the following statement:

The Company is committed to its dividend, and our goal remains to increase it over the long-term. However, given the very robust level of our payout today, and in light of our near-term outlook for Free Cash Flow growth, we believe that maintaining our dividend at its current level is appropriate.
This is in line with everything that I've been saying... that Covanta's dividend is sustainable even in a challenging environment, and should eventually increase.